So apperently Obamacare refund checks are on there way.

So, with all the hyperbole being thrown around about Obamacare I wanted to research how it effects me. I have had health ins my whole life, Ive been lucky enough that my fathers job always had it for my our family. When I was 18 I got a job working full time and my company gave me INS as well.

Now my wife and I have ins, so theres never been a break in my coverage, so no "penalty" for people that already have INS. So what is the change for people like me and my wife who have always paid health care premiums?

Affordable Care Act means $1.1 billion insurance rebate

But here’s the real game-changer: The 80/20 rule. If the insurance company spends less than 80 percent of premiums on medical care it must rebate the excess.

So according to this article, if you are covered and the INS did not spent 80 percent on medical care they have to refund the difference to you.

Now the problem is if your on an employer plan, you know the type all those small business have that are about to go out of business.

The money will go to the employer and they decide what to do with it, it has to go toward things that benefit the employee though like lower health care premiums.

My thinking on this is so now what, people who have ins get a carrot for having it, and people that don't get a stick. Honestly I wasn't against Obamacare in theory its the implementation that worries me...

Why couldn't that extra funds raised by this go towards that penalty to the poor?

I mean it seems that I am being rewarded for being of a social class that can afford health care, and those who can't are being punished...

Correct me if I am wrong, but lets see if I get this right.

Every month my employer pulls out my portion of my healthcare expense and theirs. I got that.
But, since I or my family hardly go to the doctor, once a year if that. The females go a couple times more, but not for being sick. I know what I pay in premiums is more than the service I actually receive from being sick/injured, whatever.

But what you are saying all that money I am spending and get no use out of is actually going back to my employer?

great idea.

steal more of my money, and give it to the have nots.
i'am sure the marxist know everything democrats would love that genius of an idea.

reply to post by Skewed


Yea, if its through your employeer they actually pay part of your premiums as well, the new rules say that INS can only spend 20% of the premiums on "administration cost"

SO now if you never go to the dr, that 80% goes back, some people who pay ins on their own will get that rebate, estimates as high as 600 dollars per person depending on the state.

BUT in many cases its the Employer that actually has the plan for you, they get the refund, but by law they have to use for things like lowering your premiums.

Originally posted by benrl
reply to post by Skewed

 

Yea, if its through your employeer they actually pay part of your premiums as well, the new rules say that INS can only spend 20% of the premiums on "administration cost"

SO now if you never go to the dr, that 80% goes back, some people who pay ins on their own will get that rebate, estimates as high as 600 dollars per person depending on the state.

BUT in many cases its the Employer that actually has the plan for you, they get the refund, but by law they have to use for things like lowering your premiums.

Well, I want my money back, because my employer only raises the premiums. I am not convinced that the refund is doing anything to benefit me. How would I find this out.

reply to post by bjax9er

great idea. steal more of my money, and give it to the have nots. i'am sure the marxist know everything democrats would love that genius of an idea.

I never bought the class warfare thing really until this healthcare thing started, really the poor get hit with a stick, I get a refund...

Im sorry I know how horrible the idea of socialism is, but frankly id rather not be on the wrong side of a french revolution type situation because TPTB in this country decided to F--- over the poor.

reply to post by Skewed

I am not convinced that the refund is doing anything to benefit me. How would I find this out.

Exactly, its not gonna hit the people that have employee plans, its going to all those employeers that are suposedly going to go out of buisness because of obama care, you know the ones MSM keeps screaming about...

So if it looks like its not getting to me anyway, like I said, Id rather it go so the people who can't afford it don't get hit with a penalty.

Im sorry if I sound like a Commie or something, but frankly Id rather every child under 18 got health care, and F--- all the adults, we can figure that crap on our own.

But we have to deal with the system we have as the SCOTUS allowed this thing to continue.

"we have to pass it first to know whats in it" - ring a bell?

reply to post by benrl

the poor $%&* themselves over and over and over.
nobody said the poor had to be poor.
some people suck at life.
why do i have to take responsibility for them?

if you support socialism because your scared of being on the wrong side.
then just move to north korea now, where they are now, after 75 years, ALLOWED to eat pizza.

Originally posted by benrl
reply to post by Skewed

 

I am not convinced that the refund is doing anything to benefit me. How would I find this out.

Exactly, its not gonna hit the people that have employee plans, its going to all those employeers that are suposedly going to go out of buisness because of obama care, you know the ones MSM keeps screaming about...

So if it looks like its not getting to me anyway, like I said, Id rather it go so the people who can't afford it don't get hit with a penalty.

Im sorry if I sound like a Commie or something, but frankly Id rather every child under 18 got health care, and F--- all the adults, we can figure that crap on our own.

But we have to deal with the system we have as the SCOTUS allowed this thing to continue.

Now there is an idea with merit. Foster the children.

The way I read the link was, if the total expenditure of the insurance company's administrative costs totaled more than 20%, they have to rebate the difference. But it appears to address the total operating costs across the board. They could easily keep within the 20% margin just by having some people they are covering who are going through cancer treatments, or are on life support in a facility, etc. Those are exceptionally expensive patients.

Did I read it wrong? I didn't see where it was calculated on the individual, but rather their entire budget, covering all the people they insure. I assume the rebate would be be spread out among all the insured persons. If they had to do it on a per-person basis, the people who never used their insurance would get an 80% rebate, and I just can't see it working that way.

Please correct me if I am mistaken.

the poor $%&* themselves over and over and over. nobody said the poor had to be poor. some people suck at life

Right, your right, there exisit no possible reason other than their own fault for their social economic situation.

keep enjoying your prosperity.

"Qu'ils mangent de la brioche" I guess eh?

Or "let them eat cake"

Reply to post by FissionSurplus

I think you've got it, the rebate comes only if they spend more than 20 percent of premiums on administrative costs. I doubt the way things are right now that insurance companies are spending more on their customers, they have been making record amounts money because insured people are not going to the doctors. So they probably have been rewarding themselves with higher salaries and bonuses. As for the individual vs group plans, I think they have to take people who have their own insurance without a group plan on a case by case basis.

Also thought I would add these rebates every year should help small businesses with the cost of buying insurance for employees.


Posted Via ATS Mobile: m.abovetopsecret.com

reply to post by acmpnsfal

Also thought I would add these rebates every year should help small businesses with the cost of buying insurance for employees.

Bingo, its all BS Hyperbole in the MSM now, its all pandering to the right on this.

This part of the law directly contradicts the whole "small business with Health ins will lay off people"

Originally posted by bjax9er
reply to post by benrl

 

the poor $%&* themselves over and over and over.
nobody said the poor had to be poor.
some people suck at life.

I hope you never get hit with medical debts that bankrupt you. I am guessing if that happens, you'll be the first to come screaming about how unfair the system is and how it's all Obama's fault..

Some people..

The working class poor, the middle class and the elderly are the ones that are suffering in the health care department. If you are non working or really low paid there are government and state programs that will offer you almost free health care with better coverage than most of us workers now get. Obamacare gutted my employee/employer insurance plan.

When they had to pick up kids until they were 26 our premiums went up and our plan gutted so we have to pay most of the bill ourselves. With the cost of doctors and meds most of our people can't afford to make their bills AND pay an arm and a leg to see a doctor.

The company does not have to lower your premiums if they get money back. The money is theirs to do as they choose to do with. I don't see many companies sharing this rebate with employees do you? It's funny these companies are already stating premiums going up next year but just don't know about raises yet.

The senior citizens have to carry another insurance to supplement the government insurance. My parents pay 218 per person a month for insurance that only picks up 20 percent. Can these people that worked all their life afford that kind of money? Not the majority of them. But you aren't worried about them?

Just kids that you consider poor that get free health care already not counting food stamps and housing and what all else?


It is a shame that we have a country where health care is out of reach for the elderly and the working people. You can not have affordable health care when you are dealing with for profit businesses such as insurance companies. You spend all your money for an insurance policy and still can't afford to go to the doctor. That is stupid. Most of us are worse off now then before.

Makes you consider turning Muslim or Amish they're exempt from Obamacare.

You can find out about this all here.

www.healthcare.gov...

•Insurers will be required to make the first round of rebates to consumers in 2012. If you are owed a rebate you will receive a reduction in your premiums, a rebate check--or, if you paid by credit card or debit card, a lump sum reimbursement to your account. If your employer paid all or part of your premium, the same share of any rebate may go to your employer.

Originally posted by benrl


I never bought the class warfare thing really until this healthcare thing started, really the poor get hit with a stick, I get a refund...

You are confused.

Prior to this...Insurance companies had a strong incentive to deny claims and drop folks from coverage when they got sick.

Financial analysts for insurance companies and wall street call this the "Medical-Loss-Ratio"...by loss they mean money that they actually have to give back to people in paying insurance claims rather than keep in profits, bonuses etc.

Some insurance companies were keeping around 50% of all the premiums they collected and making gobs of profit by DENY...DROP..DENY as a general response to claims filed.

Now the ACA law says that they can only keep 20% of revenues and have to actually pay claims with what they collect from folks.

If they don't then they have to refund it.

Now..THAT has to do with who you have insurance through. Those that have it through an insurer that doesn't have the "Deny first and see if they fight it" philosophy to pad profits will not owe a refund to anyone.

There was an Analayst that once testified in Congress that his bosses told him to deny all claims 3 times before even reading the claim...many people don't fight a denial. The movie "Rainmaker" was based on that case.

Poor people...rich people...doesn't matter, they get a refund if their insurance company went over the 20% mark...because they were over-charged or under-re-imbursed for that coverage.

No one is getting a hand-out...they are getting a refund...a refund for a policy that is either over-priced or a policy that denies an unusual amount of claims.

Originally posted by camaro68ss
"we have to pass it first to know whats in it" - ring a bell?

That is exactly what I was thinking, along with the fact they are never going to be able to implement this mess.